What’s Next For Solana Meme Coins If SOL Price Hits $200?
Key Insights:
- Solana’s price rose by 40% to $135 after bottoming at $94.5 earlier this month, signaling a potential rally.
- Fartcoin price has risen over 300% since March, with its market cap nearing $1 billion and key resistance at $0.6345.
- TRUMP first major unlock on Apr. 18 will release 40 million tokens, increasing supply by 20%, raising concerns over potential price impact.
Solana price recent increase has brought back the spotlight on Solana meme coins operating on its platform.
The potential SOL price rise to $200 could trigger significant shifts for Fartcoin and TRUMP, along with other meme coins within its ecosystem.
The current market movements indicate how these tokens may perform moving forward following Solana price increase.
SOL Price Surge and Market Sentiment on Solana Meme Coins
Solana (SOL) price achieved a 40% growth, propelling the altcoin from its previous low point of $94.5 to $135.
The upward price action has brought forth increased optimism from traders because many expect SOL to reach $200.
Solana’s price action shows sharp fluctuations and major drops followed by quick recoveries, with some analysts predicting it could reach $200.
In addition, the SOL price surge is a signal that the Solana ecosystem may deliver future gains across its blockchain.
When the value of SOL increases, investors tend to show more interest in blockchain projects constructed through Solana’s platform.
Consequently, the rising popularity of Solana has created opportunities for several meme coins to thrive.
Two popular Solana meme coins, Fartcoin and TRUMP have gained substantially throughout the past months.
Additional gains for Solana-tied meme coins seem probable based on positive market views toward the Solana blockchain.
Fartcoin Price Surge and Resistance Levels
Notably, Solana meme coin, Fartcoin, achieved a major price boost in March when its value surged beyond 300% from its initial value.
The market capitalization of the token is now moving towards $1 Billion, demonstrating its rising status.
Fartcoin encountered key resistance at $0.6345 on April 9, when its price crossed this threshold to mark a major development for the coin.
The Solana meme coin price increased due to technical factors, rising above $0.6345 and the 25-day EMA, signaling a bullish outlook.
More so, Fartcoin price predictions point to $1.0730 based on previous market trends and Fibonacci analysis.
The price breaking through this level may target $1.3732 as the next milestone that could deliver a 20% gain.
More so, analyst Muro has pointed out that Fartcoin had displayed positive market indicators after its price broke through a downward trendline pattern.
The rising price trend indicates potential for future growth. The prevailing momentum suggests Fartcoin might surpass current resistance to reach a new peak over the coming short term.
TRUMP Major Token Unlock and Market Concerns
Additionally, TRUMP, another Solana meme coin will perform its first major token unlock event, giving away 40 million tokens that amount to more than $320 Million at current rates.
Token tracking Tokenomist has noted that the upcoming token unlocks will introduce 20% of the existing circulating supply into market distribution.
The forthcoming event prompted investors to worry about how additional supply would affect token price stability.
The meme coin market may face downward pressure from newly released tokens as they enter circulation.
Consequently, a total of 493,000 TRUMP tokens will be released daily from now until the July unlock.
The upcoming token unlock period will sustain market pressure because traders must adjust their positions to accommodate the higher token amounts.
This crucial time for the TRUMP token came when it experienced a 5% price decrease in the past day.
The token dropped to $35 from its peak value of $73.43 in January, and analysts expect that forthcoming new token releases will worsen the price decline.
Simultaneously, with these market concerns, TRUMP, the Solana meme coin, has shown growing activity, hitting over $400 Million in trading volume.
This surge in volume indicates that some investors are positioning themselves ahead of the unlock.
